TT&A advised BlackRock in relation to the issuance of unrated, unlisted, secured, redeemable non-convertible debentures by Skyroot Aerospace Private Limited (Company). The Company intends to use the proceeds for issue-related expenses; working capital requirements, including operational costs; and acquisition of fixed assets.

TT&A also advised BlackRock in relation to its investment in the Pre-Series C2 equity funding round in the Company for USD 60 million.  This is an important deal as, with the current funding, the Company crosses a USD 1.1 billion valuation and achieves a ‘unicorn’ status. This will help the Company to establish a high cadence of Vikram-1 launches, scale up manufacturing, and develop Vikram-2, a 1-tonne-class launch vehicle powered by an advanced cryogenic stage, expanding the range of missions and customers it can serve.

TT&A Team – Sonali Mahapatra & Rebha Dakshini – Partners; Annie Jain – Managing Associate; Samiksha Kothari & Rohan Mitra – Senior Associates and Anushree Verma – Associate